Employee experience is not just about feeling good at work. There are published studies that show the links between employee experience and retention, discretionary effort, and work performance. This of course presents a direct correlation to an organisation’s financial outcomes.
A positive employee experience starts at the pre-employment stage. Are there any hints of bias in job ads that could reflect poorly on brand and culture, that could possibly turn off applicants? Are job interviews transparent and upfront about duties, pay, expectations, advancement and work schedules? Those who accept a job offer, only to find out that the position isn’t what they expected, will remember the experience AND tell everyone about it! – Everyone has seen a scathing Glassdoor review.
EX has become one of the biggest trends in HR in recent time, and even those with poor ratings can reverse climb by knowing and understanding what keeps workers productive and motivated. Trust and inclusion are central to a positive employee experience and executives who lead with transparency and frequent communication can help to foster that trust. Although inclusion is often paired with diversity as a concept, it also applies to workers’ need to feel accepted in an organisation as valued team members.
Common values among the broad base of employees include meaningful work, recognition for achievements, flexible work options and development opportunities. Employers who offer workers these experiences will be strong competitors in attracting and retaining talent, especially in today’s tight employment market. The statistical tie between fully-engaged workers and profitability, demonstrated in the IBM/Globoforce research, is even more incentive to elevate the employee experience.
Some key findings from this report include:
- The concept of employee experience is gaining mainstream popularity. In the past five years, Google searches for the term “employee experience” have increased 130 percent. However, validated measures of employee experience have been in short supply.
- Organisations that score in the top 25 percent on employee experience have nearly three times the return on assets compared to organisations in the bottom quartile.
- Organisations that score in the top 25 percent report double the return on sales compared to organisations in the bottom quartile.
There is always room for organisations to improve their practices and drive a more positive employee experience. We’d love to hear about your best and worst Employee Experience!
Logical Talent Management can help you refine your EX strategy to help maximize business performance, get in touch for information.